March 24, 2020 / 8:48 AM / 15 days ago

BRIEF-Spineguard Says Safeguard Proceedings To Allow For Debt Repayment Negotation

March 24 (Reuters) - SPINEGUARD SA:

* SPINEGUARD: INFORMATION ON THE SAFEGUARD PROCEEDINGS

* SPINEGUARD’S BOARD OF DIRECTORS AND MANAGEMENT DEEM THAT SAFEGUARD PROCEEDINGS WILL ALLOW FOR NEGOTIATION OF REPAYMENT OF ITS DEBT AND THUS DECREASE ITS BURDEN ON COMPANY

* THIS PROTECTION, EFFECTIVE BOTH IN FRANCE AND IN UNITED STATES, GRANTS COMPANY POSSIBILITY TO FOCUS MORE EFFECTIVELY ON ITS ACTIVITIES, ITS CUSTOMERS AND TO CONDUCT SUCCESSFULLY ITS STRATEGY CENTERED ON ITS DSG TECHNOLOGY DEPLOYMENT THROUGH INDUSTRY PARTNERSHIPS

* WE ARE ALREADY WORKING ON THE ELABORATION OF A SAFEGUARD PLAN AND ARE CONFIDENT THAT IT WILL ENABLE THE AMENDMENT OF OUR DEBT - CEO

* ONGOING SAFEGUARD PROCEEDINGS DO NOT EXCLUDE AN AGREEMENT THAT COULD SHORTEN THE PROCESS

* PENDING EXECUTION OF SAFEGUARD PLAN, PAYMENT OF INVOICES RECEIVED PRIOR TO INITIATION OF SAFEGUARD PROCEEDINGS IS FROZEN

* COLLABORATION WITH OUR INDUSTRY PARTNER ADIN DENTAL/ CONFIDENT ON DENTAL APPLICATION WILL INTENSIFY IN 2020 WITH CO-DEVELOPMENT OF A NEXT GENERATION DSG EMBEDDED PRODUCT

* ON CORONAVIRUS: FOR NOW, IN A GROWING NUMBER OF COUNTRIES, MOST OF THE ELECTIVES SURGERIES ARE BEING POSTPONED TO PREPARE FOR AND FOCUS ON COVID-19 PATIENTS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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